COMMRECIAL.

New Zealand Herald, Volume LIII, Issue 16327, 6 September 1916, Page 5

COMMRECIAL.

GENERAL BUSINESS QUIET.

WEAKNESS IN PRODUCE.

The month has opened with general business quieter than was expected. This '"a probably due to tho large distributions of imported goods out of recent arrivals from England and America. Buyers were short of stocks, and operated freely, so that now they are in a much better position in this respect, and they are now limiting their purchases very largely to sorting up lines. An examination of the official returns confirms the general impression that distributing houses are better supplied. Tho imports for tho first six months of the year exceed all previous records in value, and every single month is above the value for the corresponding month of last year. Of course higher prices largely account for this, but stocks are usually regulated by value, rather than by quantity, and retailers are not anxious to increase their stocks in hand. It is also noticeable that Southern houses have not been drawing on Auckland lately, so that they also must be better supplied than they have been since the war began. Produce :• As tho markets generally follow the lead given by wheat, the uncertainty m that commodity is tending to weakness all round. Potato Market Firm. Potatoes : The market is firm, with supplies rather small, best samples selling at JflU 5s ex store. Southern growers are not at all keen to sell, and they evidently expect higher prices. These ideas are based on the visible supply in New Zealand, but tho future market depends on Australia. Melbourne is already able to supply at a price that will allow of importation at about equal cost to our own, and the market lias fallen a little. A further slight reduction in Victoria would steady the New Zealand price, as Australian are of prime quality, which is more than can be said of recent shipment's from the Southland any importations would be packed in new sacks, and would have to pass, the official inspection. It must also be remembered that in Sydney the first of the new potatoes will be ready in another month. Onions: Stocks are hardly so plentiful until next week, but the demand is not very heavy, and the jirice remains unchanged. Oats, Wheat, and Flour. Oats: Market is firm in the South, as further Defence orders are expected, which will probablv clean up all the stocks at present available. The spring threshing commences next month, but at present not many, are offering. Seed Oats: Sales have been very limited so far. It was expected that large quantities of Algerian seed would bo reouircd during August, but _ the incessant rain has either delaved sowing or caused farmers to miss the season altogether. Good samples from Australia aro still on hand. _ Wheat: The market is firm, but no reliance is placed on the future of this grain, as it would not lake a very big consignment from Roumania to bring'down the price in London, even if it has to ho railed via Salonika. As soon as thero is the slightest chance of handling tho huge surplus left over from the last two harvests in Roumania and Russia, American holders will be tho first to get rid of their stocks. So far the few holders in New Zealand hare been able to maintain their price, even with Australian holders anxious to unload what they have been unable to ship Home. Flour: The firm tone in the market would probably result in a definite increase in price", if it were not for Australia being able to supply all our mentsBran and Pollard : Both are plentiful, and in decreasing demand. Good Supplies of Ohaff. Chaff: Regular shipments are arriving from Blenheim, and these are generally being distributed ex ship. Maize: Fairly largo quantities are still arriving from the coast, and consignments are being placed on the basis of 3s 9d on the wharf in wholesale lines. Grass Seed : Several small lots have been taken for spring sowing. Prices are very Inch for all varieties, on account of tho failure of the crop last year, but during the coming summer it is expected that largo crops will bo secured. Through most of Canterbury there has been better rain than for several years, and this will make all tho difference to the pastures. Fertilisers: Operations aro limited by short supplies of bonedust. All manures are in good request.

Activity in Hardware, Hardware : Much activity prevails in the general hardware trades of Wolverhampton and district. Engineers and toolmakers in particular are busy on orders for military purposes. The shipping houses have favourable advices from Australasia and India, and steady business is being done with South Africa and South America. Edge tool makers are in receipt of new orders for cultivating implements, iron founders are busy on cast hollowaw, and there is a good demand for heavy castings. In. the electrical branches, foreign orders are forthcoming from markets at one time served by Continental rivals. The same applies to enamelled goods. ! Glassware : It is satisfactory to note that the steps taken to establish in tho Midlands new branches of the glass industry are meeting with success, and that tho efforts to meet the competition from Germany and Austria are assuming definite shapo. A substantial business is held both on Homo and export account. Manufacturers of cycles and motor-cyclef are being pressed for deliveries by agents at Homo and abroad, and here again the colonial and foreign orders are moro numerous than can be executed. The Flax Trade. Flax : The flax trade has been seriously disconcerted by the substantial advance in freight to London that came in with the beginning of tho month, but the Homo market has met the advance by a slight rise in price, so that the cost is not falling altogether on the local producer. A reduction has taken place locally, and good fair is now quoted at £34. a fall of about £1 per ton, while high point fair is worth £33, and low point £52. In tow the advanco in freight is still more noticeable, as tow measures more than flax per ton. Very little No. 1 comes on this market, but No. 2 is worth £9, and No. 3 £8 per ton. A fair amount of flax is coming in, and increased quantities are expected as tho season advances. Fungus: Market is weak at 5J per lb. Kauri Gum. / Kauri Gum: Supplies for the month of August amounted to 385 tons, which is considerably more than July, but well under the total for June. The wet weather is seriously interfering with operations on the gumfields. This month has started better, the shipments arriving during the first few days being heavier than usualand it is expected that supplies will continue on a larger scale. Good gut i ..eeps up in price, and a little better Jemand for poorer grades is being experienced. There is still a fair demand for good bush gums, of which rather small quantities have boen arriving. Good roscraped and bold blacks are changing hands, also good 82. Good hearty swamp can be placed, but the poorer qualities have been too wet to deal with. Good chips can be placed, but it is hard to do business in the poor qualities.

CANTERBURY PRODUCE MARKET. [bt telegbaph.—press association.] CHRIOTCHUBCH. Tuesday. There is very little business doing in wheat, but the market keeps firm. Offerings are scarce, very few samples having been shown for some days past. The Toncariro was to have taken some wheat in her Homeward cargo, and it is not likely, [tbatj further space will be. found for jt>

There lias been good demand of lato for seed oats, indicating that farmers are sowing this cereal instead of wheat, aa a spring crop. The potato market is without change, £7 being paid at country stations. LONDON MARKETS. Australian and N.Z. Cable Association. (Received 6.10 p.m.) LONDON. September 4. .' METALS. Stocks of tin total 19,648 tons. Supplies on spot amount to 2876 tons, there are 3520 tons afloat, and deliveries total 1379 tons. CHEESE. The owners of the parcels of rennet, the shipment of which was stopped by the Government prohibition of exports, state that tho supplies wero required for the manufacture of cheese for general consumption, and for contracts for supply to the British Government. Mes'srs. Dalgety and Company, Limited, report having received the following cablegram from their head office, under date the Ist inst. :—'" Butter quiet unchanged. Cheese firm, 2s advance."